Solana's Price Plunges Below Multi-Month Range Low

Solana's price action in recent weeks has been closely tied to the broader cryptocurrency market.

While the altcoin has fared better than Bitcoin since May, with a 9.56% loss compared to BTC's 12.09%, its outlook is more bearish than the numbers suggest.

A key development on Tuesday saw Solana close below a multi-month range low of $76.7, raising concerns about a potential downward price move.

Traders may be watching for a retest of the $76-$80 supply zone, which could serve as a selling opportunity with immediate targets around $67.5.